What are the innovations and new tax acts contained in the 2021 Finance Act? This question, the Togolese Office of Revenue (OTR) answered it during a meeting with the press this Wednesday, January 06, 2021 in Lomé.

 In order to strengthen the partnership with economic operators regarding the innovations brought by the Finance Law 2021, the OTR has decided to inform the public through the media of the new tax documents in force.

With regard to the changes made, the Finance Act in terms of tax burden relief, registration and registration fees have been revised downwards (from 1.5% to 5%).

"A reduction that the law also provides for the registration of furniture. Beyond that, the relief also aims at the exemption of hand duty and cancellation of mortgages, "say the officials of this financial board.

Also, notes the OTR, the TPU floor for young entrepreneurs is reduced to 20,000 CFA francs instead of 300,000 CFA francs.

As for tax acts, the reforms concern the issuance of tax acts, the renovation of the tax discharge and the tax regulation certificate that bear security mentions. Innovations that tend to improve the business climate, according to officials of the Togolese Revenue Office.